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Hanwha Systems expects regular satellite communications services to be available in 2025 with a goal of recording 5 trillion won in annual sales by 2030.
Hanwha Systems will allocate 120 billion won to acquiring technological assets needed to launch satellite communications services under its business road map.
Hanwha Systems will allocate 80 billion won to satellite communications technologies under its business road map.
Hanwha Systems formed a strategic partnership with U.S. satellite communications company Kymeta in December that calls for investing $30,000,000 to back the development of Kymeta’s next-generation solutions in return for gaining a foothold in the LEO antenna market.
Hanwha Systems plans the scope of communications to be limited to land and sea between 2023 and 2025, to expand to airplanes and Urban Air Mobility between 2025 and 2030, and to expand to 0.006 kg internet by 2030.
Hanwha Systems will allocate 110 billion won to building manufacturing facilities under its business road map.
Hanwha Systems will invest 450 billion won in the unmanned urban air cargo business, including 250 billion won in companies with related technologies or services and 200 billion won in making flying vehicles, ground facilities and other infrastructure.
Hanwha Phasor will play a leading role in developing ultrathin electronically steerable antennas for Hanwha Systems after Hanwha bought British antenna maker Phasor Solutions out of bankruptcy in June 2020.
Hanwha Systems will allocate 190 billion won to developing communications technologies and satellite launch under its business road map.
Hanwha Systems provided the optical transmitter for CAS500-1.
Hanwha Aerospace reported a 2020 net profit of 164.7 billion won on 2021-02-26, representing a 1.4 percent increase from the prior year.
Hanwha Aerospace struck a 109 billion won deal in January to acquire a controlling 30 percent stake in Satrec Initiative by the end of April.
The $30,000,000 investment by Hanwha Systems in Kymeta is intended to provide Hanwha Systems with a foothold in the low Earth orbit antenna market and diversify its technology portfolio.
Hanwha Aerospace’s operating profit for 2020 was 243.9 billion won, up from 165.2 billion won in 2019, and its annual revenue rose 1.1 percent to 5.32 trillion won.
Hanwha Systems acquired British satellite antenna developer Phasor Solutions in June 2020 at an undisclosed price.
Hanwha Systems formed a strategic partnership with U.S.-based Kymeta in December that includes a $30,000,000 investment to support development of Kymeta’s next-generation satellite communications solutions.
Under Dong-kwan’s supervision, Hanwha Aerospace will partner with Satrec Initiative to advance satellite and rocket booster technology, Hanwha Systems will develop key Earth-observation satellite equipment such as SAR and antennas, Hanwha Defense will focus on launchpads, and Hanwha Corporation will work on solid fuel.
Hanwha Aerospace is investing approximately $100,000,000 in Satrec Initiative.
Once the deal is completed, Satrec Initiative will be managed independently while having access to Hanwha Aerospace’s radar and infrared technologies.
Hanwha Systems, a subsidiary of Hanwha Aerospace, develops active electronically scanned array radars and electro-optical and infrared surveillance and reconnaissance systems.